We probably all saw this coming ... the once stratospheric Turntable.FM is turning the tide to create a new music service: Turntable Live. Turntable. FM launched in 2011 and immediately took off as new music experience as an intoxicating digital cocktail: a combination of streaming music service, video game and viral social media. It's timing was perfect and its execution was too.

But in a digital world where so many things turn over quickly as an audience hell-bent on finding the next new thing moves to the next bright shiny object, Turntable FM saw it's users decline. They improved the service a lot but couldn't gain any traction.

What they did find, however, was that core parts of the Turntable.FM experience were worth using in a new approach. This is what Turntable Live became, and now Turntable.FM will close down to let the Turntable crew to focus on Live.

"For the last few months our team has been focused on building and launching Turntable Live, an interactive way to hold concerts online. We’ve done 11 events and so far everyone has really loved the experience."

Which is no joke. They've been packing more people than Madison Square Garden can hold into the experience, with a Knife Party performance having more than 20,000 people show up.

In order for this to happen, Turntable.FM will have to close down. They're sorry to close the door on the dedicated die-hards that still use it, but all parties have to end at some point.

This what they said in a Turntable.FM news announcement: "For over 2 years, we’ve improved and evolved the turntable.fm experience. We made rooms expand to unlimited sizes, made thousands of UI improvements, launched GOLD, built a mini-player, designed tons of avatars and listened to our community, trying to make the experience as wonderful as possible. Over those two years, the community has played over 400 million songs in about a million rooms.

As much as we all love turntable.fm, we have decided to shut it down to fully concentrate on the Live experience. It was a tough decision to make because we love this community so much, but the cost of running a music service has been too expensive and we can’t outpace it with our efforts to monetize it and cut costs. If we also want to give Turntable Live a real shot, we need to fully focus on it.

Check out the Turntable Live experience in the video below, and learn more at www.turntable.com: